The multi-disciplinary, cross-border team was led by London-based asset finance partner Richard Hakes, who was assisted by fellow partners Simon Hugo in London, Volker Kammel and Simon Grieser in Frankfurt, and Tilman Siebert and Thomas Gierath in Munich.
Commenting on the transaction, Richard Hakes said, “It was great to work with Deutsche Bank on this strategically important transaction for them, and the competitive process demonstrates a healthy continuing appetite among alternative capital providers to enter the shipping sector. We are very pleased to be in a position to support the bank as it moves from disposals and de-risking to focusing on adding value to its ship finance clients – it is a welcome good news story for the sector.”
The transaction represents another significant landmark in the transformation and growth of the Reed Smith asset finance team, based around a market leading reputation in shipping and a growing reputation in aviation. The team acts for a varied mix of stakeholders including banks, alternative lenders and funds and has a stellar reputation in shipping special situations and large non-performing loan portfolio transactions.
“This was a pivotal transaction for our client Deutsche Bank and we look forward to continuing to partner with the bank on its business imperatives. This has cemented our position as the leading firm for asset-based portfolios and underlines how our asset finance and structured finance teams continue to work on some of the biggest and most complex deals in the market”, added Panos Katsambas, Reed Smith’s London relationship partner for Deutsche Bank.
About Reed Smith
Reed Smith is a global law firm dedicated to providing quality business solutions, not just legal answers. Our belief is that by doing things differently, with a greater focus on innovation, and by delivering smarter and more creative and efficient legal services, we will not only enrich our clients’ experiences with us, but also support them in achieving their own business goals.
With long-standing relationships, an international outlook, and collaborative structure, Reed Smith is a strategic partner in the resolution of complex disputes, transactions, and regulatory matters.
For further information, please visit reedsmith.com or contact April French (PR Manager) on 020 3116 2557.
